GE's Caged Peacock
Should Be Set Free

NBC Spinoff Would Hold
Appeal as a Media Stock;
Parent Would Gain Focus

Updated July 29, 2006 11:59 p.m. ET

(See Corrections & Amplifications item below.)

What do steam turbines and television studios have in common? Nothing, of course, but General Electric insists there's value in owning both businesses. And if you look hard enough, there may actually be some synergies. GE says it's using the position of NBC Universal, its TV and movie division, as the broadcaster of the 2008 Olympics in Beijing to open doors for the company in...